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alstry (36.37)

Is Paulson about to ???? YOU

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September 20, 2008 – Comments (6)

"I am convinced that this bold approach will cost American families far less than the alternative -- a continuing series of financial-institution failures and frozen credit markets unable to fund economic expansion," Mr. Paulson said at a morning press conference.

What is the alternative Mr. Paulson?....you just told us the economy was stong and the banking system was safe.

Were you lying to us then or are you lying to us now.

 

6 Comments – Post Your Own

#1) On September 20, 2008 at 12:22 AM, awallejr (75.54) wrote:

Alstry, what the hell do you want?  You complain alot, but you NEVER make suggestions to improve things. He is doing what really NEEDS to be done.  These screwed up mortgages will remain a drag on the financial system unless dealt with.  THAT is the bottom line.  And the irony is, over time the taxpayer could wind up paying LESS than if NOTHING was done.

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#2) On September 20, 2008 at 1:08 AM, cubanstockpicker (< 20) wrote:

how so awall? alstry is on point. IF we bail out banks than I expect to have a few shares mailed to me in the next few months. FNM, FRE, BSC, LEH all got golden parachutes off the backs of us. If there is a bailout it needs to come to us, not in the form aof a stupid check we will pay next year anyways, a real solution. Screw the banks, let the big hogs lose their ass and have them make the breadline. I want to see fuld and the rest of them collect unemployment like the rest of the people who lost their job, after all it was their choices to make those risks. LEH did many stupid things leading up to this.AIG did many stupid things also, and so did fnm and the rest of them.

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#3) On September 20, 2008 at 1:20 AM, LordZ wrote:

My so called beef is this is suppose to be an investing site not an its  the whole world is F'ed up and b and whine site.

All I ever read from Alstry makes me want to ask him if he would like some cheese with all that wine.

Just once I would like to see short this at this level or buy at this time, not read about how so called tax revenues might be shrinking or read about how this company just closed it doors.

Instead we get 472 blogs all with the same theme.

Maybe if some chick would help get Alstry laid, maybe he might not see things so badly...

I'm gonna donate one dollar to the hey lets get ALSTRY laid charity foundation :)

FYI

LORD Z

will be on vacation........................

and the colored girls go DEW DEW DEW DEW DU WA....

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#4) On September 20, 2008 at 8:02 AM, awallejr (75.54) wrote:

Cuban it is not really a question of "bailing" out the banks.  It is a question of just dealing with the freezing of the financial system. Paulson and Bernanke were trying to do it piecemeal and ultimately decided it was a lost cause.  They acknowledged the underlying problem and decided to flat out deal with it now. 

Yeah we can finger point at who was to blame (and at least Andrew Cuomo is going to probe the mess, unlike the FED AG or SEC or CFTC, but that doesn't try to cure the mess.  How would you have felt if next week when you went to your ATM to withdraw cash and it didn't work?  THAT very well could have happened. 

Once the banks get these damn toxic loans off their books an into a federal holding company, the financials can then free up to start actually lending again thereby at least helping to prevent a deep recession or even depression.  THAT is where the taxpayer actually gains.  Costs you maybe a trillion to actually GAIN trillions with a GDP rise instead of a decline.  And that trillion cost can make you a profit because the Gov't doesn't have to mark-to-market and they can unwind at their own pace.

 

I will give Cramer his due on this.  He did call for it months ago.  And I will give Paulson and Bernanke and EVEN Congress for finally dealing with the real crux of the problem and doing a gutsy thing.

Thi is the stuff I want to read about, acknowledging problems yes, but offering SOLUTIONS as well.  Alstry and others don't do that, they just shout "fire."

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#5) On September 20, 2008 at 8:27 AM, alstry (36.37) wrote:

Once the banks get these damn toxic loans off their books an into a federal holding company, the financials can then free up to start actually lending again

This is the mother of all lies that you are being spoon fed with a shovel.  It was the toxic borrowers that were borrowing.  They are toxic because the can't pay their debt.  Those that are qualified to borrow don't need any money.

THAT IS THE WHOLE POINT.  Our economy became dependant on loaning money to those who were not qualified because we didn't have the revenues to survive otherwise.

Once the banks get our money they will simply sit on it now as the cat is out of the bag and as a result our economy gets flushed down the drain burdened with a few extra trillion of bank debt on our books.

As far as a solution...restructure now or face even greater problems in the very near future.  Protect the dollar or you can simply exchange it for toilet paper.

But don't stress too much.....my guess is a major conflict breaks out before this really starts to perculate.  You can hear the drum beats banging right now.

The Chinese are just giddy....we saved their Fannies but the paper is worthless? 

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#6) On September 20, 2008 at 12:59 PM, awallejr (75.54) wrote:

Alstry I am in the real estate business.  I blogged already about this.  If the funding companies and brokerage houses weren't allowed into the residential mortgage business things would be alot better today than they are.  It was those lenders who kept inflating real estate prices and throwing easy loans at borrowers that never would have been qualified under the old system. Because these entities were not regulated they pretty much did what they wanted for years.  Eventually the ponzi scheme collpases, which it has done.

This MRT the Government is creating is just the first step.  You WILL see new regulation as a follow up, because no one wants to just take the toxic loans and allow the lenders to do it all over again.

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